Agric Minister not willing to back-off from purchase of 60% SSNIT stake in hotels

Samuel Okudzeto Ablakwa, MP for North Tongu, criticized Agriculture Minister Bryan Acheampong for persisting in buying SSNIT's 60% stake in four hotels, despite constitutional concerns and public outcry, primenewsghana.com reports.


Ablakwa highlighted Labadi Beach Hotel's substantial profits, stating, “Labadi Beach in 2023 recorded a profit of GHS 158m, up from the GHS 77m profit in

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He debunked claims of Rock City's profitability, asserting, "Rock City is making losses despite the propaganda that it is the best and well-managed."

Ablakwa revealed Rock City is expected to pay $61m for the stake, below its fair market value of $121m.

SSNIT, however, is proceeding with the sale, instructing Rock City to finalize due diligence.

Ablakwa announced plans for a protest against the sale, emphasizing, “But on Tuesday, this coming Tuesday, we will protest against that decision and demonstrate to register our displeasure.”